I have been looking for a while on the internet and in books but I am not coming across much info on how 7037 was enforced or how it was looked upon by the nation.
Edit: I was naive in how I was looking for info. I found what I was looking for and more.
According to this document (pdf warning) created by the Rural Electrification Administration the executive order on its own wasn't enough, it required the Rural Electrification Act of May 20, 1936 to start becoming truly effective.
The EO + act were intended to (and ultimately successful in) providing electricity to rural communities.